Everlast Minerals eyes ASX debut

(ASX: EM8)

1 Oct 2024

 

 

Key points:

• Everlast Minerals (ASX: EM8) aims to raise $20 million and list by end of October

• Company holds three mining licences in northern Bangladesh

• Plans to serve local market and has a deal with Chinese processing plant

Everlast Minerals (ASX: EM8) is planning to list at the end of October, aiming to raise $20 million to achieve a market cap around $100 million. Non-Executive Director George Edwards shares that the company’s three mining licenses are in northern Bangladesh, on the Brahmaputra River.

George explains that Bangladesh’s regulatory environment is similar to Australia’s, making it straightforward for Everlast Minerals (ASX: EM8). The company values responsible mining and has been asked to apply for two more exploration licences, in addition to the one starting next year.

Funds raised will be utilised to bring the sites into production. Everlast (ASX: EM8) already has a pilot plant in place and aims to start mining with the new funds. The company plans to primarily serve the local market but also has a non-binding agreement with a major Chinese party.